The current assets of Mayon Enterprise consists of cash, accounts receivable, and inventory. The following information is available: Credit sales 75% of total sales Inventory turnover Working capital P1,120,000 Current ratio 2.00 to 1 Quick ratio 1.25 to 1 Average Collection period 42 days Working days 360 5 times The estimated inventory amount is: 840,000 O 600,000 720,000 550,000
The current assets of Mayon Enterprise consists of cash, accounts receivable, and inventory. The following information is available: Credit sales 75% of total sales Inventory turnover Working capital P1,120,000 Current ratio 2.00 to 1 Quick ratio 1.25 to 1 Average Collection period 42 days Working days 360 5 times The estimated inventory amount is: 840,000 O 600,000 720,000 550,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![4G+
2:24 PM
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IMUitipie CTIOICE
The current assets of Mayon
Enterprise consists of cash, accounts
receivable, and inventory. The
following information is available:
Credit sales 75% of total sales
Inventory turnover
Working capital P1,120,000
Current ratio 2.00 to 1
5 times
Quick ratio 1.25 to 1
Average Collection period 42 days
Working days 360
The estimated inventory amount is:
840,000
O 600,000
O 720,000
O 550,000
16 of 50](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8ce9c530-9b03-4668-a22b-eb537683a23e%2F659e0664-3f9e-4eed-a780-35fe088f786d%2Fnj1twjq_processed.jpeg&w=3840&q=75)
Transcribed Image Text:4G+
2:24 PM
0.7KB/s 7 4
01:07:46 Remaining
IMUitipie CTIOICE
The current assets of Mayon
Enterprise consists of cash, accounts
receivable, and inventory. The
following information is available:
Credit sales 75% of total sales
Inventory turnover
Working capital P1,120,000
Current ratio 2.00 to 1
5 times
Quick ratio 1.25 to 1
Average Collection period 42 days
Working days 360
The estimated inventory amount is:
840,000
O 600,000
O 720,000
O 550,000
16 of 50
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